UK to shake off mild recession by end of this year, City analyst predicts January 16, 2023 The UK economy will experience a very mild recession and could be out of it by the end of this year, a top City economist has forecast. International energy prices have marched back down the steep hill they climbed after Russian president Vladimir Putin sent troops into Ukraine in February last year. On some measures, [...]
ITM Power’s shares plummet 14 per cent after hydrogen specialist makes third profit warning in eight months January 16, 2023 Shares in ITM Power nosedived 13.5 per cent on the London Stock Exchange this morning, after a third profit warning in eight months.
German defence chief QUITS after heavy criticism of Russia-Ukraine war handling January 16, 2023 German defence minister Christine Lambrecht has resigned following persistent criticism of her handling of military modernisation programmes and the country’s arms deliveries to Ukraine. Lambrecht said she had submitted her resignation request to Chancellor Olaf Scholz, saying that “months of media focus on my person” had stood in the way of a factual debate about [...]
Davos: Energy prices will remain above pre-Covid levels but they will be less volatile says Equinor boss January 16, 2023 The boss of one of one of the world’s largest energy companies has warned that high energy prices are here to stay. Anders Opedal, CEO of Equinor – which is bigger than BP, made his comments ahead of the Davos World Economic Forum conference in Switzerland. Opedal, who was speaking on BBC Radio 4’s Today [...]
US-China tensions, tariff hikes and Russia sanctions force firms to look at ‘onshore’ supply chains January 16, 2023 Logistics executives increasingly believe top companies should look to bring their supply chains closer to home to avoid being impacted by trade wars, sanctions and other global shocks, a new survey has found. Supply chain managers increasingly see ‘onshoring’ and ‘near-shoring’ as a means of hedging against disruption to global trade caused by the Covid-19 [...]
Ukraine is a real life learning curve of the price of modern war and defence January 16, 2023 The war in Ukraine is a distinctive representation of conflict in today's world. We have to look closely at our role in supporting Kyiv to understand the price and lessons of modern war, writes Eliot Wilson
Shell claimed £200m from Ofgem heaping pressure onto household bills January 15, 2023 Shell claimed almost £200m for costs associated with taking on customers whose suppliers had gone bankrupt in 2021, before generating record profits in 2022 on the back of soaring oil and gas prices. Shell’s UK utility business claimed £197m under Ofgem rules for costs linked to picking up 500,000 new customers from five energy suppliers [...]
Legal & General to vote against NewMed’s takeover bid for Capricorn Energy January 15, 2023 A fight over the future of Capricorn Energy is set to come to a head this week on the announcement that one of its top investors is set to vote against the oil and gas firm’s board in a push to veto NewMed Energy’s £3bn takeover deal. Legal & General Investment Management (LGIM) is set [...]
A present for Putin: Sunak reportedly agrees to deliver squadron of tanks to Ukraine January 14, 2023 Prime Minister Rishi Sunak has reportedly agreed to deliver a squadron of tanks to Ukraine to aid the country’s efforts in re-taking territory lost to Russian forces. Four British Army Challenger 2 main battle tanks will reportedly be sent to eastern Europe immediately, with eight more to follow shortly afterwards. According to The Sun, a [...]
Russians relaunch attacks on Kyiv as Putin doubles down on Ukraine war tactics January 14, 2023 Russian missile attacks hit critical infrastructure in Kyiv and the eastern city of Kharkiv on Saturday morning, officials said, and the governor of another region warned that a massive missile strike could follow in the coming hours. Reuters journalists heard a series of blasts in Kyiv before the air raid siren even sounded, which is [...]